Naguib Sawiris behind GBP 3 bn merger of gold miners: “Bn’aire Sawiris behind planned Endeavour-Acacia merger,” blares the headline in the Financial Times, suggesting that Naguib is the force moving a merger to create a GBP 3 bn London-listed gold producer. Sawiris and other family members have “large stake” in Toronto-listed Endeavour Mining, which has operations in Mali, Ghana and the Ivory Coast. It is proposing to merge with Tanzania-focused Acacia Mining, majority owned by Canada’s Barrick Gold. Together, they would have a combined annual output of about 1.5 mn ounces, putting the merged entity ahead of Randgold Resources, the largest London-listed gold producer. The FT notes that “Analysts said a merger of the companies was likely to garner support from institutional shareholders on both sides of the Atlantic providing the terms of the deal were sensible and did not favour one set of investors over another.”